United States House Financial Services Committee is holding a hearing on the social media giant Facebook's proposed virtual currency Libra on July 17, according to a press release June 24.
The announcement comes in the form of the committee's rep rep. Maxine Waters, who had previously asked Facebook to stop work on Libra, the congress and the regulators had a chance to scrutinize the proposal:
"Due to the company's troubled past, I say that Facebook accepts a moratorium on any move forward in developing a cryptic course until Congress and Regulators have the opportunity to investigate these issues and take action. "
In its public statement, Waters also commented on the lack of uniform regulation in the crypto exchange market and so that regulators should see Facebook's plans for Libra "as a wakeup to become serious about privacy and national security issues, cyber security risks, and trade risks that are cited by cryptocurrencies."
The Senate Banking Committee is also allegedly scheduled to hear about the details of Libra The day before, July 1
As previously reported by Cointelegraph, France is on the way to creating an international working group focusing on regulating cryptographic curves via central banks. The workforce will allegedly be a G7 committee operating under Benoit Coeure, a member of the European Central Bank.  France is allegedly against Libra as a sovereign currency and is concerned with how to enforce regulatory compliance, for example, anti-money laundering laws.